Global Integrated Marine Automation System Market size is projected to be valued at $4.3 Billion by 2026; with a CAGR of 2.7% from 2019 to 2026. Integrated Marine Automation System is a complete set of ship automation packages where all equipment and systems for control, alarm, monitoring, information and analyzing needs are integrated. The monitoring and control system of an integrated marine automation system is designed to meet the safety and reliability requirements of standard merchant vessels which include tankers, research and survey vessels, container ships, ferries & ROPAX, fishing & coastal vessels and others.
Technological developments and growth in maritime tourism & seaborne world trade in various sectors are boosting the growth of the global Integrated Marine Automation System market. Moreover, rising demand incompliance with maritime safety norms and the digitalization process of the Integrated Marine Automation System with IT corporates are also expected to fuel the growth of the market. However, rising energy costs &increasing environmental regulation may hinder the growth of the market. Furthermore, opportunities from various enterprises from emerging economies and high-performance multi-use diesel-electric vessels would provide growth in the upcoming years.
The global integrated marine automation system market is segmented based on the ship type, solution, end-user, component, and geography. The ship type segment is further segmented into defense and commercial. The solution segment can be bifurcated into the power management system, vessel management system, process control, and safety system. Furthermore, the end-user segment includes OEM and aftermarket. The component segment is further segmented into product and service.
The global integrated marine automation system market by geography is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S. and Canada are covered under North America wherein Europe covers U.K, Germany, Italy, Russia, France, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. RoW covers South America, Middle East, and Africa.
Major companies operating in the global Integrated Marine Automation System market are Northrop Grumman, ABB, Siemens, Kongsberg Gruppen ASA, Thales Group, Transas, Consilium AB, Wartsila Corporation, Tokyo Keiki Inc., Marine Technologies, LLC, Praxis Automation Technology, Honeywell International Inc., API Marine Inc., and MTU Friedrichshafen, among others.
The key takeaways from the report
Scope of Integrated Marine Automation System Market
Ship Type Segments
End User Segments